Introduction – Analyzing Stocks Using Ichimoku Technical Analysis
Outline
Module 1 – How to Track Price Action on Ichimoku Charts
Module 2 – Finding Support and Resistance
Module 3 – Reading the Charts
The method I teach to learn Ichimoku follows these steps:
1. learn the lines
2. know the relationship between price action and the lines
3. use price action and the lines to find support/resistance levels and trends
1. learn the lines
We covered how to understand the lines in Course 02 – Learn Ichimoku – Learn How the Ichimoku Kinkō Hyō Cloud System Works – Stock Weather. You learned about the lines and how to use the 3 Pass Process to analyze what each individual line is presenting. We even briefly went over how price action relates to the individual lines.
2. know the relationship between price action and the lines
In this course, we delve deeper into understanding price action and how it relates to the lines. In the lesson Price to Everything, you’ll learn the importance of price action within the Ichimoku system and new steps to view the lines, and how it can help you understand what is going on with individual charts.
In the lesson, Questions for the Charts, we’ll go over exactly what we need as answers from the charts.
You’ll learn an easy method of evaluating charts in the lesson Reading the Charts.
3. use price action and the lines to find support/resistance levels and trends
The purpose of understanding the lines and price action is to help you find support/resistance levels and trends.
In Module 2, you’ll learn how to analyze weekly charts to help you interpret daily charts.
You’ll discover that the 200-Period Simple Moving Average is widely used by traders and works well with the Ichimoku system.
After seeing how to implement Fibonacci Retracements, you’ll be able to evaluate how retracement levels relate to support or resistance levels provided by the Ichimoku system.
You are about to learn how to discover short, medium, and long-term price trends.
Finally, in Module 3, we’ll bring it all together so you can evaluate an individual issue, its sector, and how it relates to the overall market.
Course Objectives
By the end of this course, you’ll be able to:
- read price action and understand how it relates to Ichimoku
- analyze price action to the different elements of the Ichimoku system
- apply new steps to viewing charts for heightened comprehension
- classify different trends on any chart
- how to read the charts to find valuable trading information
- evaluate the information that the Ichimoku system presents on individual charts
- interpret the environment of a chart by looking at longer and shorter time frames
- work with 200-Period Simple Moving Average on charts
- how to apply Fibonacci Retracements to help find support and resistance zones
- appraise a stock to its sector and the market as a whole
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